What’s going on here?Gold prices are holding steady, with spot gold at $2,683.78 per ounce and US gold futures at $2,690.90, as investors brace for upcoming US Federal Reserve discussions and the release of key economic data.What does this mean?This stability in gold prices highlights the market’s cautious stance amid economic uncertainty. The Federal Reserve’s decision to cut interest rates by a quarter-point has bolstered gold’s attractiveness, especially with a 65% chance of further cuts by December. As Chair Jerome Powell and other Fed officials prepare to speak, coupled with major economic indicators like the CPI, PPI, and retail sales…
Author: user
SEOUL (Reuters) – A South Korean state-run think tank said on Monday (NASDAQ:) that monetary policy needed to be loosened in accordance with the slowing trend in inflation, which has weakened to a near four-year low that is well below the central bank’s target. “There is a need to adjust the degree of restrictiveness in monetary policy to prevent inflation from staying below the price stability target of 2% for a long period of time,” the Korea Development Institute said in a report. The institute often conducts research for the government but rarely gives specific policy suggestions. Market participants tend…
Though the craze around environmental, social and governance (ESG) has simmered some – both in support and in opposition – we’re continuing to see companies voluntarily release reports and incorporate it into long-term business strategies. As someone with a career in financial services and a passion for helping disadvantaged communities become thriving participants in the national economy, I believe ESG reports are a strategic way for businesses to focus on long-term impact on local economies, communities and the environment. A recent example is CSX Transportation, a leading supplier of rail-based freight transportation. Not long ago, CSX released its 2023 ESG…
(Bloomberg) — Chinese stocks declined after a high-profile legislative meeting disappointed investors who had been hoping for large-scale stimulus to boost the economy and end a deflationary cycle. Most Read from Bloomberg The CSI 300 Index was down 0.4% as of 9:40 a.m. local time, while a gauge of Chinese stocks trading in Hong Kong dropped more than 2%. Both gauges trimmed bigger losses seen at the open. The declines followed a 4.7% tumble in the Nasdaq Golden Dragon China Index in the US on Friday. Investors had pinned their hopes on the Standing Committee meeting of the National People’s…
Shares of Vestas Wind Systems tanked on the news that Donald Trump had won the 2024 presidential election. Investors dumped shares of the world’s largest wind turbine maker as Trump has vowed to curtail renewable energy subsidies and favors the oil and gas sector. Other European renewable energy firms, such as wind farm operator Orsted , also fell. However, analysts at a number of investment banks have suggested that investors overreacted to fears of a downturn for the sector. VWDRY 1Y line “Donald Trump’s victory and a republican sweep in Congress is the worst political outcome in the USA for…
TOKYO (Reuters) -Yuichiro Tamaki, the head of the Japanese opposition party that has emerged as kingmaker as lawmakers select the next prime minister on Monday (NASDAQ:), said a tabloid report about his extra-marital affair with a model was “basically true”. Tamaki said he would ask his party members if he should resign as leader of the Democratic Party for the People (DPP). “I apologise for the trouble caused,” he told reporters at a hastily called news conference after tabloid SmartFlash reported the affair on Monday. “The facts reported this morning are basically true,” he said.SmartFlash reported that Tamaki, 55, and…
HANOI (Reuters) – Vietnam’s central bank is ready to sell U.S. dollars to the market to keep the exchange rate stable, Governor Nguyen Thi Hong said on Monday (NASDAQ:). “The exchange rate market has been volatile after the Fed’s rate cuts,” Hong told the parliament in Hanoi, adding that market management is a challenging task. Hong said the central bank will prioritise stability and inflation control, but will have measures to support the government’s goal of lifting the pace of economic growth. “We are ramping up packages of preferential loans for projects to develop homes for low-income earners and for…
Anthony Sweetman, Joint Country Head at UBS Australsia, discusses his outlook and investment strategies for the region. He speaks exclusively with Haidi Stroud-Watts at the sidelines of the annual UBS Australsia Conference in Sydney on “Bloomberg: The Asia Trade”. (Source: Bloomberg) Source link
This Tenant Moves Out of Parents’ House In South Mumbai to Rent with His Wife | The Tenant In this episode of The Tenant, meet Akshay salot who moved out of his parents’ home in South Mumbai to live independently with his wife. He shares his journey of finding a 2BHK apartment in a new building with amenities for ₹80k, compared to the ₹80k rent for a 1BHK in an older building. From breaking societal taboos to improving his relationship with his parents, watch how he balances freedom, family, and the challenges of renting in Mumbai. Key highlights include his…
By Florence Tan SINGAPORE (Reuters) – Oil prices extended declines on Monday as the threat of a supply disruption from a U.S. storm eased and after China’s stimulus plan disappointed investors seeking fuel demand growth in the world’s No. 2 oil consumer. Brent crude futures dropped 19 cents, or 0.3%, to $73.68 a barrel by 0104 GMT while U.S. West Texas Intermediate crude futures were at $70.13 a barrel, down 25 cents, or 0.4%. Both benchmarks fell more than 2% last Friday. Beijing’s stimulus package announced at the National People’s Congress (NPC) standing committee meeting on Friday fell short of…